Existing homes sales dropped 9.6%. All cash sales came in at a record 33% increase. The national medium home price dropped 5.2% over last year. Investors are buying up homes and taking advantage of low home prices.
Rates and home values are very low. Investors are taking advantage of this, why aren't you? The time to buy is now.
I've heard the response of I'm not going to buy because the market is down and I'll get less for my home. Your $100,000 home lost 5.2 % so it is now worth $95,000. The new home you are buying for $200,000 is now at a bargain for $190,000.
To view the full existing home sale report click the following link.
http://www.realtor.org/press_room/news_releases/2011/03/feb_decline
Ron Meyer is a Wisconsin licensed Sr. Loan Originator NMLS #222688 with GSF Mortgage Corporation NMLS #1018 located at 300 Patriot Dr. Little Chute, WI 54140 We specialize in financing purchases and refinancing home loan mortgages for all of Wisconsin. As a local lender we pride ourselves on offering quality service before and after your closing. Our underwriting is all done in house, allowing us to have quicker than normal processing time of your loan.
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